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The Appraiser Qualifications Board (AQB) establishes the Real Property Appraiser Qualification Criteria for state licensing, certification and recertification of appraisers. FIRREA mandates that all state certified appraisers must meet the minimum education, experience and examination requirements promulgated by the AQB.
TAF carries out its work through two divisions – the Appraisal Standards Board (ASB) and the Appraiser Qualifications Board (AQB). The latter group sets forth minimum qualifications for appraisal licensure, and its work has been adopted by all states and territories. The ASB maintains USPAP, and issues updates in January of even numbered years.
The California Real Estate Act has two core components: licensing and enforcement. [1] [2] Both licensing and enforcement functions are required by the Appraisal Subcommittee (ASC), the federal government organization which oversees all state real estate appraiser licensing agencies. [2]
An appraiser (from Latin appretiare, "to value") is a person that develops an opinion of the market value or other value of a product, most notably real estate.. The current definition of "appraiser" according to the Uniform Standards of Professional Appraisal Practice (USPAP) is: "One who is expected to perform valuation services competently and in a manner that is independent, impartial and ...
The NAA also has a designated membership, MNAA (Member of the National Association of Appraisers, who is an individual who holds an appraisal license, certification or similar appraisal credential issued by a governmental agency; and who accepts the membership requirements and objectives of the National Association of Appraisers.
The precise minimum requirements vary from society to society, but roughly they include the purpose and scope of the assignment, the standard of value and specific valuation date being employed, an identification of the specific interest being evaluated, the relevant state and federal laws that govern the entity being valued, the scope of the ...
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Due to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 licensed and certified real estate appraisers in the United States who are involved in a federally related transaction are required to follow federally accepted, uniform standards, known as USPAP, which are promulgated by the Appraisal Standards Board of the Appraisal Foundation. [2]
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